Cowen To Close Two Ramius Hedge Funds

Jun 16 2010 | 1:36pm ET

Cowen Group has decided to shutter two of Ramius Capital’s multi-strategy hedge funds in the wake of continuing redemptions.

The firm—created by the merger of Ramius and boutique investment bank Cowen last year—plans to offer investors in the funds redemption options for the liquid portions of the Ramius Multi-Strategy and Ramius Enterprise funds, HFMWeek reports. The move comes after redemptions crossed a threshold that allows Unicredit, one of the funds’ largest investors, to redeem its $668 million investments with just 30 days notice.

The Italian bank has agreed to participate in the slower wind-down of the funds, however. Ramius, as the hedge fund arm of Cowen is still known, told the Securities and Exchange Commission it would begin returning investor capital in July and should complete the liquidation by the end of the year.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...